What is Control Account?

Consider a Control Account to be a large piggy bank that keeps all of your money for a certain aspect of your project. In a project, you split the budget into control accounts for different sections of the job, much as you may divide your money into several envelopes for food, bills, and fun stuff. This allows you to keep track of how much money you’re spending on each component. If you’re remodeling a house, you may have a control account for the kitchen, another for the bathroom, and yet another for the living room. It’s a method of organizing and controlling the money you use for various project assignments.